Dutch government backs North Sea Porthos CCS project
FID expected this year as developers target 2024 startup for one of world’s largest CCS projects
The Dutch government has agreed to grant subsidies of up to €2.1bn ($2.55bn) to one of the world’s largest carbon capture and storage (CCS) projects in the North Sea. The Dutch government’s backing is expected to allow the developers of the 250mn t/yr Porthos CCS project—Shell, ExxonMobil, Air Liquide and Air Products—to reach FID by the end of this year, followed by a two-year construction phase and commissioning in 2024. 2.5mn t/yr – Potential capacity of Porthos CCS project Permitting for the project, which will use depleted gas reservoirs in the North Sea P18 blocks to store CO₂ piped via the Port of Rotterdam, is already in progress and is expected to take less than a year to co
Also in this section
10 May 2024
Launch of project powered by geothermal energy in Iceland marks step forward in push to scale up expensive direct-air-capture technology
8 May 2024
Allowance prices rise 34% since start of year as regulator imposes tighter limits and considers reduction of free allocations
7 May 2024
Policymakers should consider backing enhanced weathering as a CDR technique with benefits to the agricultural sector
3 May 2024
Developers look to government’s forthcoming budget to restore support as industry suffers loss of momentum